Solution-Calculate the cost of the inventory

Calculate the cost of the inventory

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Reference no: EM13509982

Partridge Bookstore had 500 units on hand at January 1, costing $18 each. Purchases and sales during the month of January were as follows:

Date Purchases Sales
Jan. 14 375 @ $28
17 250 @ $20
25 250 @ $22
29 260 @ $32

Partridge does not maintain perpetual inventory records. According to a physical count, 365 units were on hand at January 31. Calculate the cost of the inventory at January 31, under the FIFO method.

Reference no: EM13509982

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Calculate the cost of the inventory : Partridge does not maintain perpetual inventory records. According to a physical count, 365 units were on hand at January 31. Calculate the cost of the inventory at January 31, under the FIFO method.

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Calculate the cost of the inventory

Reference no: EM13509982

Reference no: EM13509982

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